Licensing and Regulatory Affairs
Media Contact: LARA Communications 517-335-LARA (5272
Protecting Michigan’s Senior Investors and Presenting the New Securities Rules
February 6, 2019 – Investment advisers, broker-dealers and others in the securities industry are invited to attend LARA’s Securities Seminar that will focus on:
Hosted by LARA’s Corporations, Securities and Commercial Licensing Bureau (CSCL),
the free, half-day seminar will be held March 13 from 8:00 am to 12:00 pm at Lansing Community College – West Campus.
“Assets that senior investors have built up over a lifetime of hard work can be a tempting target for unscrupulous individuals,” said LARA Director Orlene Hawks. “Knowing and watching for signs of elder financial abuse will help curb this major problem that has the potential to grow dramatically with the aging of our population.”
Featured keynote Elder Justice Resource Prosecutor Ryan Painter of the Prosecuting Attorney’s Association of Michigan will present “Vulnerable Adults & Community Awareness.” He will discuss how investment advisers and broker-dealers can help protect their senior clients from financial abuse by knowing the red flags of potential elder exploitation.
Prosecutor Painter will also emphasize how reporting financial abuse is consistent with their role in protecting clients’ assets and safeguarding their information.
Seminar participants will also learn more about the new Securities Rules that are intended to facilitate capital formation for businesses in Michigan and protect the investors who depend on the integrity of Michigan’s securities markets. The Securities Rules implementing the Michigan Uniform Securities Act are also intended to modernize the regulatory landscape of the securities industry in Michigan, create exemptions from registration for participants in the securities industry, and clarify the rights and duties of regulated individuals and the regulators. The rule set creates exemptions from registration for securities offerings and clarifies what information must be provided to investors to allow for informed investment choices.
LARA Administrative Law Specialist Stephen Brey and Warner Norcross & Judd Attorney Shane Hansen will present an update on the Securities Rules. Industry participants should review the new Securities Rules and related explanatory documents to understand how their businesses may be affected, and the obligations they may have when the new rules go into effect on July 3, 2019, with other rules taking effect on January 3, 2020.
Additionally, CSCL securities examiners will provide statistics and feedback on past securities exam results and survey.
Wednesday, March 13, 2019, 8:00 a.m. to 12:00 p.m.
Lansing Community College – West Campus
5708 Cornerstone Drive
Lansing, MI 48917
Seminar admission and parking are free. Breakfast begins at 8 a.m., the seminar starts at 8:45 a.m., and beverages will be provided. The building is accessible to people with disabilities. Seating is limited to the first 100 registered. Because of limited seating, each investment adviser or broker dealer firm is asked to send a maximum of two representatives. LARA recommends that at least one compliance officer be sent to the seminar. Those who are interested are encouraged to register as soon as possible.